The real estate auction is definitely a win-win proposition for everyone involved. The seller disposes of properties quickly and efficiently, thereby saving long-term carrying costs such as interest, real estate taxes, and maintenance. For the buyer, this can mean a smart investment, since properties are usually purchased at fair market value through competitive bidding. Because the auction sale is conducted on an open forum, both motivated buyers and motivated sellers have the assurance of watching the property’s true market value emerge as the bidding process progresses. For both buyer and seller, fair market values for the property prevail. An auction creates competition among buyers and exposes the property to a large number of pre-qualified prospects. Because it is an accelerated sale, property can often be sold within 6 weeks of listing. For the agent, auctions can mean an increased client and customer base, as well as increased profits.